Verizon Communications plans to eliminate around 15,000 positions across its American operations in what amounts to the telecommunications giant's most extensive workforce reduction to date. The restructuring will affect roughly 15 percent of its domestic employees and includes converting approximately 200 company stores into franchise locations.
New chief executive Dan Schulman, who assumed leadership responsibilities in October, initiated the cost-cutting measures as part of his vision to transform Verizon into a more streamlined organization. The carrier has struggled with declining subscriber numbers over recent quarters while facing intensified pressure from competitors in wireless and broadband markets.
New chief executive Dan Schulman, who assumed leadership responsibilities in October, initiated the cost-cutting measures as part of his vision to transform Verizon into a more streamlined organization. The carrier has struggled with declining subscriber numbers over recent quarters while facing intensified pressure from competitors in wireless and broadband markets.
